Courtemanche Craig F. Jr. 4

What Happened

• Craig F. Courtemanche Jr., Chairman of Procore Technologies (PCOR), exercised 56,122 option shares at $2.42 per share (cost $135,815) on June 10, 2026, and sold 56,122 shares in open-market transactions the same day for a total gross of approximately $2,533,545 (13,701 shares at $44.69 = $612,298; 42,421 shares at $45.29 = $1,921,247). The sales were executed pursuant to a 10b5-1 plan dated December 9, 2025. There are two small June 12, 2026 entries (2 shares sold and 2 shares purchased) reported as derivative-related adjustments.

Key Details

• Transaction dates & prices: June 10, 2026 — exercised 56,122 @ $2.42; sold 13,701 @ $44.69 and 42,421 @ $45.29. (Sales price ranges: $44.01–$44.98 and $45.02–$45.65 per filing footnotes.)
• Gross proceeds from the sales: ≈ $2.53 million; exercise cost: $135,815.
• Shares owned after transaction: not specified in the excerpt provided — see the Form 4 for total beneficial ownership.
• Notable footnotes: sales were made under a 10b5-1 trading plan (F1). Separate trust-related transactions (Family Trust and 2021 Trust) executed a revolving loan and collar covering 1.7M shares on June 12, 2026 (shares pledged to a bank; written calls and purchased puts across components with strikes noted in the filing) — these are trust-level liquidity/hedging actions, not direct open-market sales by the insider (F8–F12).
• Filing/timeliness: Report lists the transaction date as June 10, 2026 and was filed June 12, 2026 — filed promptly (not marked late).

Context

• This was an option exercise followed by immediate open-market sale (a common "cashless exercise" pattern) rather than a standalone buy. Sales under a 10b5-1 plan indicate the trades were pre-planned and not ad hoc. The trust-level collar/loan is a financing/hedging arrangement that can involve pledging shares and contingent settlement based on future reference prices; it does not by itself indicate insider sentiment.